Jóhannes Kolbeinsson earned an MBA from Schiller International University and worked as a consultant at PwC before he co-founded KORTA Pay in Iceland in 2001. Although the country has a small population of around 330,000 people, its entrepreneurs and businesses are renowned across Europe. The firm created by Kolbeinsson is no exception: KORTA Pay, as the first independent debit and credit card acquirer in Iceland, disrupted a duopoly by introducing new solutions, which have since modernised the Icelandic payment market. Today, KORTA Pay has built an alternative for a service that, according to Kolbeinsson, had been substandard and overpriced for many years.